Retirement and Insurance for Mid-High Net Worth Families

With China’s rapidly growing aging population, retirement has become an important issue for economic and social development. Protecting the lives of the older adults after retirement is a family as well as a social issue. Thus, this study here analyzed the situation of families receiving retirement/pension or old-age pension and the participation of family commercial pension insurance through Chinese household tracking survey data and obtained the following main conclusions. The results show that the proportion of mid-high net worth households receiving pension or retirement benefits is somewhat higher than that of non mid-high net worth households; mid-high net worth households receive more severance/pension or old-age pension, which plays a positive role in ensuring a high quality of retirement life for older adults in mid-high net worth households.